A qualifying event is any life change which makes you eligible for a new health insurance plan outside of the annual open enrollment period. The most common qualifying life events are having a baby or adopting a child and moving into a new home.
Having a new baby is one of the most important things to do as a new parent. Consider the best type of coverage for your family. A newborn is a great way to reduce your out-of pocket expenses if your plan has a high deductible.
Special enrollment periods may be triggered by major life changes, giving you more flexibility to choose a plan. These special enrollment period can happen at any time during the year. You are usually able to select a plan 60 days prior to a qualifying life event, like a marriage or birth.
Loss of Coverage is a Qualifying Event
The most common qualifying situation that leads to a special enrollment is when you lose minimum essential health insurance. If you lose your coverage, such as if you get divorced, you need to show proof of that loss in order to enroll in a new plan.
You may also qualify for a special enrollment period if, after turning 26, you no longer have coverage through your parent's policy. Turning 26 means you can no longer get the same type of coverage you had as a young adult.
New Job as Qualifying Events
You will receive a special enrolment period when you start working at a different company. This allows you to sign-up for employer coverage. However, if you pick up your own coverage, you will have to wait until the next open enrollment period for your current employer-based coverage to take effect.
Change of residence is a qualifier
If Gwen moves from Miami to Philadelphia with her children, she may be able to sign up for a new plan to help protect her and her family's health. This is a good way to save money because she won't be paying premiums for the old plan if she stays in her home.
Divorce can be a qualifying event
Max, a Brooklyn resident of 25 years, who gets divorced, can enroll into a new health plan to ensure that his family and he continue to receive the care they need. Reviewing your Anthem coverage options is a great idea, since many insurance companies offer flexible plans to accommodate changing circumstances.
If you are a first-year student and do not have dependents or have an existing special enrollment period, you may be eligible for a special registration period. A special enrollment period may be available if you're part of a religion congregation.